The Government have announced in Budget 2016, and added more detail in the linked consultation response, that they will not be taking forward proposals to exempt 'bulk purchasers' or 'bulk owners' of homes from the new rates of SDLT that will from 1 April apply to buyers of an additional home. 

The Treasury had floated the idea of exempting those buying more than 15 properties in one transaction, or those owning more than 15 properties before completing a transaction. Consultation responses were not in favour so there will not be an exemption. 

The BPF and others argued that imposing higher tax on investors looking to 'build to rent' would frustrate attempts to encourage a new generation of purpose built rented homes. As a result of this announcement lawyers and others putting these deals together will need to look at ways of mitigating exposure to tax.